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Banking Essay Examples

Traditiona banking vs modern banking

...The management of the Bank is under the Managing Director who is supported by Eight (8) functional Directorates namely Finance, Banking Operations, Credit, Information Technology, Internal Audit, Legal Services, MD’s Office and Human Resources & Administration, each headed by a functional Director. The functional directors are assisted by managers. The branches are managed by Branch Managers reporting to Director of Banking Operations. Current staff compliment stands at 250 employees where...

Comparison of Islamic Banking and Conventional Banking

...Islamic law considers a loan to be given or taken, free of charge, to meet any contingency. Thus in Islamic Banking, the creditor should not take advantage of the borrower. When money is lent out on the basis of interest, more often that it leads to some kind of injustice. The first Islamic principle underlying for such kind of transactions is "deal not unjustly, and ye shall not be dealt with unjustly" [2:279] which explain why commercial banking in an Islamic framework is not based on the debt...

Comparision of internet banking and traditional banking

...Besides, for many people shopping is a source of entertainment, almost a social rite. People like to handle things, especially clothes, feel the texture, and try them on to see how they look in them. But the rising popularity of shopping online proves that for an increasing number of people factors like avoiding the inconvenience and crowds, incompetent shopping assistants in the store, going all the way to the shop only to find the product they are looking for is out of stock outweigh the few a...

Banking

...The additional duties could be classified into three categories and those duties have been the subject of recent case law (Tyree 2008). “The passbook has been replaced by the bank statement which is sent at intervals to the customer and the current practice seems to favour the customer even more since there is no way for knowing whether the customer has even received the statement (Tyree 2008). ” Kepitigalla was approved by the New Zealand Court of Appeal in National Bank of New Zealand Ltd ...

Merchant Banking

...The recent developments in merchant banking are due to certain contributory factors in India are : The merchant banking was at its best during 1985-1992 when there were many new issues . It was expected that 2010 going to be good time for merchant banks , as many new issues are coming up . The foreign investors- both in the form of portfolio investment and through foreign direct investments are venturing in Indian Economy. It is increasing the scope of merchant bankers in many ways. Disinvestmen...

Online Banking

...There is no doubt that potential for Internet banking in India is immense considering the raising penetration level of the World Wide Web in Indian homes and offices. The Banks has very well adopted the strategy of providing Internet-Banking services. It has tried to familiarize the customer with the services like account information, fund transfer, bill payment, requests and intimation, communication with account manager and other services. The study revealed that the majority of customers are ...

Traditional Banking

...This article by Edwards and Mushkin presents a very interesting and informative view of the current situation facing banks in today’s financial market. The traditional role usually occupied by banks as lenders has been undermined by the influx of non-traditional lending institutions. These institutions have taken the opportunity to provide lower-interest loans and higher-interest deposits to customers, thereby forcing banks to flee to riskier methods of gaining revenue. Policies that regulate ...

Finance and banking

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Consolidation in Banking

...They address that in banking industry, “ firms with large market shares can reach the minimum economic scale of operations to develop a differentiated base of products which can be priced at a premium to obtain extraordinary profits(efficiency-structure hypothesis).” ( Santillán-Salgado ,2005, p85).Due to this reason, in order to earn more profits , banks want to increase market shares. Mergers and acquisitions are the most important way for corporate restructuring and enlarge corporate sca...

Banking Sector Reform

...When the crisis exploded in September 2008, the RBI rapidly reversed its earlier tightening of credit to meet the new and changed circumstances. The CRR and the repo and reverse repo rates were rapidly lowered in a series of quick steps. Some initiatives were also taken to enhance access to bank credit by Non Banking Finance Companies. Signs of panic withdrawals from some private sector banks in the initial weeks of the crisis were met with strong reassurances by both the Government and the RBI ...

Banking- Technology Impact

...Over the years, the banking sector in India has seen a no. of changes. Most of the banks have begun to take an innovative approach towards banking with the objective of creating more value for customers and consequently, the banks. Some of the significant changes in the banking sector are discussed below. MOBILE BANKING Taking advantages of the booming market for mobile phones and cellular services, several banks have introduced mobile banking which allows customers to perform banking transactio...

Crm Banking Sector

...The method used to administer the questionnaire was through a personal interview so as to obtain more accurate, reliable and valid information and to make the respondents at ease by maintaining a social rapport with them. The target population to be sampled was the individual customers of the Indian banking sector. Owing to the need for a relatively large sample size while at the same time keeping the research costs down, the sample size of this study amounted to 150 customers and the quota samp...

Advantages Of Unit Banking

...9.Limited Size of Operation:Unit bank business can not be operated on large scale because of its limited area. Being the small organisation, division of labour can not be applied. 10.No Economy of Reserves:Under unit banking, bank can not transfer its funds to any other branch. So economy in cash reserve can not be secured under this system. 11.Limited Financial Resources:A unit bank has limited financial resources so it is not able to provide full and adequate banking facilities to the industry...

Features of Retail Banking

...Northern Rock emerges into the scene with financial support from the Bank of England and declares the need as a last resort. The next day, depositors are rushing out to withdraw their deposits and around £1 billion are withdrawn which is the biggest run on a British bank for over more than a century and people continue to withdraw until the government intervenes to guarantee their savings. Hence, Northern Rock which had been relying on the markets that had already dried up due to onset of credi...

Social Media and Banking

...As a consequence there is a high level of insecurity as to what can and cannot be done. Despite these issues, social media is now seen as forming a strategic part of a communications program rather than representing solely a tactical activity, with 84% of banks now having a specific social media strategy. Nearly one third has started to execute a strategy, and 15% have a fully developed strategy in place. More than 40% are currently in the process of creating a strategy, and only 16% have not st...

Banking: an Ethical Dilemma?

...* The Free Dictionary (2010) Dilemma. [online] Available at http://www.thefreedictionary.com/dilemma [Accessed 17th March 2011] * Blurtit (2010) What is the importance of the banks. [online] Available at http://www.blurtit.com/q197532.html [Accessed 18th March 2011] * Schermerhon, J.R. (2005) Management 8th ed. New York. John Wiley and Sons Inc. * Boatright, J.R (2008) Ethics in Finance. 2nd ed. Oxford. Blackwell Publishing. * Boartright. J.R (2000) Ethics and the conduct of business. 3rd ed. Ne...

Activities of Investment Banking

...Unlike the retail banks and commercial banks, the investment banks don't take the deposits. There are commonly two main channels in the process of investment banking. Trading the cash for securities like market making, facilitating transactions or for cash or for the promotion of the securities like research, underwriting is known as the sell side, while correlate with the mutual funds, hedge funds, pension funds and investment public comprises the buy side. Various companies have sell and buy s...

BofA Mobile Banking case

...This can help to identify stronger alliance for the long term development. In conclusion, BofA must keep on investing in mobile banking apps, as it is a trend that smartphone or more innovative device (e.g. Google device) will become more popular, bank must utilize these new technologies by re-design the current channels to increase the bank traditional income (e.g. Transaction fees) and other new incomes (e.g. investments service, financial consultation service, etc.) and extend the service wit...

Maybank online banking system

...Maybank online banking system has provided its full day access to bank accounts and advanced services. Currently, users can now check their finances status with a click of button. They can also view their bank statements, check the balances or manage some transaction by using the online banking system. Recently Maybank had taken a huge step by announcing its internet banking services for the customers. This is due to achieve the same standard as other conventional banking facilities that are in ...

Banking and Finance Law

...Therefore, Red Bank has to pay $10000 penalty fee for Fantastic Landscapes to the finance company. According to duty of the banker, the BLB (Big Lender Bank) does not have any duty to Fantastic Landscapes because in this case, its customer Minnie just is its client. Therefore, BLB do not have any duty to her company although she is a director in that company and she has committed fraud. Moreover, BLB do not care about how Minnie paid off her debt because Minnie did not withdraw money in the trus...

Impact of Electronic Banking System

...Banking? International Finance Vol. 3, No. pp. 211 – 27 Friedman B. (1999). The future of Monetary Policy: The Central Bank as an Army with Only a Signal Corps? International Financial, Vol. 2. No. 3 pp. 321 – 38. Goodhart Charles A.E (2000) can Central Bank Survive the IT Revolution? International Finance Vol. 3, No. 2 pp. 189 – 209 Hackathorn. R (2003) Factor for Implementing Active Data warehousing datawarehouse. Com. Halleiner. E (1998) Electronic Money: A Challenge to the Sovereign st...

Cyber crime in banking sector

...payment methods are being abused by money launderers for converting their dirty money into legal money. For carrying out their activities launderers need banking system. Internet, online banking facilitates speedy financial transactions in relative anonymity and this is being exploited by the cyber money launderers. Traditional systems like credit cards had some security features built into them to prevent such crime but issue of e-money by unregulated institutions may have none. Preventing cybe...

External environment for banking industry

...Similarly, commercial banks' competitive strategies are shaped by both new technologies, and the limitations of technology. Retail banking had traditionally been built around the paper-based payments, but IT has created new strategic possibilities for it. Electronic delivery of banking services can reduce a bank's overhead costs to a great extent. However abandoning bank branches can also give rise to disastrous strategic costs. New technologies have a led to a great transformation in the risk m...

Csr in Inidan Banking Sector

...On the other side CSR reporting practices are far from satisfaction. There are hardly few banks which report their activities on triple bottom line principles. The lack of uniform standards for rating CSR practices leads to problem in comparison of corporate houses and difficulty in determining the CSR rating. In spite of the slow adaptation of CSR reporting practices in India, it is predicted to pick up a great pace in near future. The need for enacting some stringent regulatory provisions to e...

Impact of mobile and internet banking

...However the adoption of internet banking has enhanced performance of the banking industry due to increased efficiency, effectiveness and productivity. The study found that mobile banking faces various challenges among them being, system delays by the mobile money transfer service providers, slow processing of transactions especially during the weekends, high transactions costs, limit on the amount of money that can be withdrawn in a day and fraud. These challenges can be solved through regular m...

Role of Technology in Banking Sector

...This service is entirely web based, where sender can use his credit card / debit card for remitting the amount though their website. After remitting you are asked to provide the details of recipient. Electronic Clearing System (ECS) : It stands for Electronic Clearing Service ECS is an electronic mode of payment / receipt for transactions that are repetitive and periodic in nature. ECS is used by institutions for making bulk payment of amounts towards distribution of dividend, interest, salary, ...

Disaster Recovery Planning in Banking Sector

...With the expansion of financial industry, banks become more sophisticated technology users; the disaster recovery plan will play a more important role in the banking sector. The bank’s disaster recovery plan can help the bank to mining the lost due to an unexpected disaster and recover the bank back to use as soon as possible, but it acquired the bank to plan a disaster recovery plan system and effectively before the disaster happens. An effective disaster plan is made under the strict require...

Pros and Cons of Mobile Banking

...Depending on how soon you detect fraud, institutions are sometimes able to freeze transferred funds or even reverse a transaction. This can be difficult if money has been transferred overseas, as American regulations on electronic banking don’t apply to foreign institutions. While individual policies vary from one financial institution to the next, some have introduced zero liability policies for customers, meaning any funds you’ve lost might be reimbursable. When you sign up for online or m...

Recent Trends in Indain Banking Sector

...The banking today is re-defined and re-engineered with the use of Information Technology and it is sure that the future of banking will offer more sophisticated services to the customers with the continuous product and process innovations. Thus, there is a paradigm shift from the seller's market to buyer's market in the industry and finally it affected at the bankers level to change their approach from "conventional banking to convenience banking" and "mass banking to class banking". The shift h...

The Origin Of Money And Banking

...The evolution of money had seen it taken different nature, various forms of tools and objects. For example, various precious metals had been accepted and used as money in primitive communities, Also, cowrie shells obtained in some island in the Indian Ocean. In the words of Davies (2002) quoted above, . "So important a role did the cowrie play as money in ancient China that its pictograph was adopted in their written language for money."[2] Even in most communities in West Africa used this mediu...

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